1 00:00:01,840 --> 00:00:06,120 Speaker 1: Broadcasting live from the Abraham Lincoln Radio Studio the George 2 00:00:06,200 --> 00:00:07,880 Speaker 1: Washington Broadcast. 3 00:00:07,320 --> 00:00:11,680 Speaker 2: Center, jack Armstrong and Joe, Katty Armstrong and Jackie and 4 00:00:12,400 --> 00:00:17,599 Speaker 2: he Armstrong and Getty. 5 00:00:23,840 --> 00:00:28,120 Speaker 3: The Ladies Only Blue Origin rocket launch, Katy Perry, Gail King, 6 00:00:28,280 --> 00:00:32,560 Speaker 3: and Jeff Bezos's fiance Lawrence Sanchez became the first group 7 00:00:32,600 --> 00:00:36,599 Speaker 3: of women ever to visit outer space. So then they 8 00:00:36,600 --> 00:00:40,280 Speaker 3: came out of the capsule and Katy Perry, this must 9 00:00:40,280 --> 00:00:41,720 Speaker 3: have been some ten minutes. 10 00:00:42,120 --> 00:00:44,839 Speaker 2: You never know how much love is inside of you 11 00:00:45,320 --> 00:00:46,760 Speaker 2: until the day you launched. 12 00:00:48,240 --> 00:00:51,199 Speaker 3: Is it possible that Katie popped the mushroom ushers up there? 13 00:00:52,760 --> 00:00:55,320 Speaker 2: That is just so stupid. I was just thinking. 14 00:00:55,480 --> 00:01:01,760 Speaker 1: So this ended space explari exploration in the United States. 15 00:01:01,760 --> 00:01:03,760 Speaker 1: We were the leaders in space exploration, were the only 16 00:01:03,800 --> 00:01:05,880 Speaker 1: country they ever got to the Moon. And it ended 17 00:01:06,240 --> 00:01:09,679 Speaker 1: because of these stupid stunts, because NASA got so caught 18 00:01:09,760 --> 00:01:12,640 Speaker 1: up in the first woman, the first black person, the 19 00:01:12,640 --> 00:01:14,200 Speaker 1: first transperson of whatever. 20 00:01:14,000 --> 00:01:15,639 Speaker 2: And nobody cares about that crap. 21 00:01:15,920 --> 00:01:18,680 Speaker 1: They think people care about that crap, But nobody cares 22 00:01:18,680 --> 00:01:22,120 Speaker 1: about that crap. That doesn't inspire people. The actual, you know, 23 00:01:22,200 --> 00:01:25,320 Speaker 1: accomplishing something is what inspired. So that killed the space program. 24 00:01:26,000 --> 00:01:29,640 Speaker 1: Elon comes along and is all about actually doing things, 25 00:01:30,040 --> 00:01:31,600 Speaker 1: and people get jazzed up again. 26 00:01:31,760 --> 00:01:35,520 Speaker 2: You got Bezos, the other guy he's following in NASA's footsteps. 27 00:01:35,720 --> 00:01:38,960 Speaker 2: Has Elon ever done a stunt launch of any kind? 28 00:01:39,040 --> 00:01:40,920 Speaker 1: I don't think he has. I don't remember he gives 29 00:01:41,000 --> 00:01:43,800 Speaker 1: his rocket it's funny names. But other than that, no, Yeah, 30 00:01:43,800 --> 00:01:46,360 Speaker 1: but I don't remember any of his launches being it 31 00:01:46,400 --> 00:01:49,360 Speaker 1: looks like there's no purpose for this other than the 32 00:01:49,400 --> 00:01:53,120 Speaker 1: first celebrity all female podcast or whatever thing. 33 00:01:54,080 --> 00:01:54,480 Speaker 2: Get off. 34 00:01:55,000 --> 00:01:56,760 Speaker 1: A lot of people are taking this seriously. Give us 35 00:01:56,760 --> 00:01:58,840 Speaker 1: clip number twenty, Michael, Come on, This is David Muir 36 00:01:58,920 --> 00:02:00,920 Speaker 1: on ABC News. Many people watch this show. 37 00:02:01,000 --> 00:02:04,280 Speaker 4: Jack the star studded all female Blue Origin flight grew, 38 00:02:04,320 --> 00:02:07,840 Speaker 4: including Katie Perry and Gail King, lasting off headed to 39 00:02:07,880 --> 00:02:08,840 Speaker 4: the edge of space. 40 00:02:08,960 --> 00:02:11,760 Speaker 2: Oh for crying it, lift off. It's amazing to me. 41 00:02:11,880 --> 00:02:13,920 Speaker 2: Ohprah cried it, Lift off, you bully. 42 00:02:14,400 --> 00:02:16,600 Speaker 1: It's amazing to me that mainstream media all these years 43 00:02:16,600 --> 00:02:20,320 Speaker 1: has acted like these stunt space things matter to people. 44 00:02:20,320 --> 00:02:23,200 Speaker 1: People don't care. They yawn at them. Big deal that 45 00:02:23,240 --> 00:02:29,080 Speaker 1: nobody's interested in. That drives me nuts. That clip that 46 00:02:29,160 --> 00:02:31,760 Speaker 1: Jimmy Kimmel had there. From Katie Perry. 47 00:02:31,680 --> 00:02:33,920 Speaker 2: You never know how much love there is on earth 48 00:02:34,000 --> 00:02:36,680 Speaker 2: until you lift off. What the hell are you talking about? 49 00:02:36,880 --> 00:02:39,320 Speaker 1: You gotta play this clip twenty two Michael, listen to 50 00:02:39,360 --> 00:02:43,400 Speaker 1: this hogwash? Would you you are officially an astronaut? 51 00:02:43,480 --> 00:02:45,720 Speaker 2: How do you feel? I still can't accept that word. 52 00:02:46,040 --> 00:02:48,760 Speaker 2: I just feel a renewed connection to everything in life 53 00:02:48,760 --> 00:02:51,480 Speaker 2: and where we are, and I can't wait to go 54 00:02:51,560 --> 00:02:52,120 Speaker 2: back out there. 55 00:02:52,200 --> 00:02:57,200 Speaker 3: It is the highest high, and it is surrender to 56 00:02:57,280 --> 00:02:57,919 Speaker 3: the unknown. 57 00:02:58,880 --> 00:02:59,320 Speaker 2: Trust. 58 00:03:00,280 --> 00:03:04,560 Speaker 1: Yes, I want somebody to come back and speak the truth. 59 00:03:04,600 --> 00:03:07,400 Speaker 1: Sometime we went pretty high. We actually weren't in space. 60 00:03:07,520 --> 00:03:09,520 Speaker 1: It was a lot like an amusement park ride. 61 00:03:09,520 --> 00:03:10,360 Speaker 2: It was pretty cool. 62 00:03:10,880 --> 00:03:12,920 Speaker 1: But no, I feel exactly the same as when I 63 00:03:12,919 --> 00:03:15,840 Speaker 1: took off. I have no epiphanies or new view of 64 00:03:15,919 --> 00:03:19,400 Speaker 1: humanity or anything like that, because that view is astounding. 65 00:03:19,480 --> 00:03:21,519 Speaker 1: I mean, it's crazy. I knew the Earth was round, 66 00:03:21,600 --> 00:03:23,240 Speaker 1: but you can see it from up there. The views 67 00:03:23,240 --> 00:03:27,200 Speaker 1: are just gorgeous. No, you have to surrender to the unknown. 68 00:03:27,200 --> 00:03:33,240 Speaker 1: It's the highest high. It's trust. Okay. I love this 69 00:03:33,360 --> 00:03:37,920 Speaker 1: from Curtis Rotis and email. Uh, look, Kitty Perry is 70 00:03:37,960 --> 00:03:40,400 Speaker 1: no more astronaut than Ham the chimp we launched and 71 00:03:40,400 --> 00:03:43,080 Speaker 1: brought back live in nineteen sixty one. Just like riding 72 00:03:43,080 --> 00:03:45,840 Speaker 1: in seat thirteen A on a Southwest flight to Albuquerque 73 00:03:45,880 --> 00:03:47,840 Speaker 1: doesn't make an airline pilot. 74 00:03:48,000 --> 00:03:52,640 Speaker 2: She was just a passenger. That's good. Yeah, when I'm 75 00:03:52,680 --> 00:03:54,840 Speaker 2: on a Southwest flight, I am not a pilot now. 76 00:03:55,640 --> 00:03:58,040 Speaker 1: And then, as you heard yesterday, it only seems right 77 00:03:58,080 --> 00:04:00,480 Speaker 1: that as they reached the peak of their space journey 78 00:04:00,720 --> 00:04:03,640 Speaker 1: and Earth was a beautiful marble in the distance, she 79 00:04:03,800 --> 00:04:07,160 Speaker 1: sang Katy Perry saying, what a wonderful world. Just like 80 00:04:07,280 --> 00:04:09,520 Speaker 1: ms King that brought me to tears. I guess I 81 00:04:09,600 --> 00:04:11,520 Speaker 1: kissed a girl and I liked it didn't quite fit 82 00:04:11,560 --> 00:04:14,640 Speaker 1: the moment. What a freaking clown show, writes Michael. 83 00:04:15,320 --> 00:04:18,160 Speaker 2: Hi, I'm Katy Perry. Let's go to space. 84 00:04:18,600 --> 00:04:22,240 Speaker 1: When Elon had that rocket come back down and he 85 00:04:22,320 --> 00:04:25,720 Speaker 1: caught it with the big giant hands, you know, I mean, 86 00:04:25,960 --> 00:04:30,520 Speaker 1: that's freaking amazing and inspiring and wow. Sending Katy Perry 87 00:04:30,520 --> 00:04:33,400 Speaker 1: and Gail King up isn't a nothing. And why does 88 00:04:33,480 --> 00:04:35,160 Speaker 1: the media go along with it and act like it's 89 00:04:35,160 --> 00:04:35,760 Speaker 1: a big deal. 90 00:04:36,160 --> 00:04:39,200 Speaker 2: Embarrassing culture. 91 00:04:41,200 --> 00:04:43,479 Speaker 1: Michael writes, I'm no longer pushing my two daughters to 92 00:04:43,480 --> 00:04:45,640 Speaker 1: worry about the hard sciences. I told them just to 93 00:04:45,680 --> 00:04:47,680 Speaker 1: have a best friend who's the queen of media. Write 94 00:04:47,680 --> 00:04:50,239 Speaker 1: horrible pop songs are steal a millionaire from his wife, 95 00:04:50,279 --> 00:04:52,840 Speaker 1: and they too can get to the edge of space. 96 00:04:55,040 --> 00:04:59,960 Speaker 1: That's beautifully said. That's pretty snarky, beautifully said. Go ahead 97 00:05:00,080 --> 00:05:01,600 Speaker 1: play twenty three Michael. 98 00:05:02,839 --> 00:05:07,000 Speaker 2: Complete and utter joy and gratefulness. You can hear no 99 00:05:07,120 --> 00:05:08,240 Speaker 2: dream is too wild. 100 00:05:08,440 --> 00:05:11,359 Speaker 4: The moon was so beautiful, and that was like, I 101 00:05:11,400 --> 00:05:13,400 Speaker 4: felt like that was a special gift just for me. 102 00:05:13,839 --> 00:05:16,000 Speaker 1: You can't go through what we went through to look 103 00:05:16,040 --> 00:05:18,640 Speaker 1: out for each other, to help each other and. 104 00:05:18,560 --> 00:05:21,120 Speaker 2: Not be changed by that. Oh, I will never be 105 00:05:21,160 --> 00:05:26,000 Speaker 2: the same. This experience is right, is second to being a. 106 00:05:25,960 --> 00:05:29,600 Speaker 1: Mom, other than the reference to being a mom. They 107 00:05:29,640 --> 00:05:32,640 Speaker 1: sound like high school girls. You can't go what we 108 00:05:32,680 --> 00:05:36,080 Speaker 1: went through together, helping each other, being there for each 109 00:05:36,120 --> 00:05:37,680 Speaker 1: other and not be changed by that. 110 00:05:39,040 --> 00:05:39,840 Speaker 2: You two were. 111 00:05:39,800 --> 00:05:42,000 Speaker 1: Strapped into a seat, then you floated around for like 112 00:05:42,040 --> 00:05:44,520 Speaker 1: a minute, then you're get back in your seat. You're 113 00:05:44,520 --> 00:05:46,960 Speaker 1: too old to say that sort of stupid crap. If 114 00:05:46,960 --> 00:05:51,200 Speaker 1: you're a you know, a pop singer who's young. Okay, 115 00:05:51,640 --> 00:05:59,040 Speaker 1: Hen stoned. Oh geez, I'm embarrassed for y'all. Yeah, I'm 116 00:05:59,080 --> 00:05:59,880 Speaker 1: embarrassed for my kun. 117 00:06:00,520 --> 00:06:02,760 Speaker 2: You can't all the love in the world you can 118 00:06:02,800 --> 00:06:04,880 Speaker 2: feel at once when you play Oh. 119 00:06:04,640 --> 00:06:10,120 Speaker 1: Shut up, it's the highest high. It's surrendered to the unknown. Okay, 120 00:06:10,360 --> 00:06:10,839 Speaker 1: all right? 121 00:06:11,240 --> 00:06:14,000 Speaker 2: Can I get back to work now? Speaking of which, 122 00:06:14,920 --> 00:06:15,760 Speaker 2: Trump v. 123 00:06:16,040 --> 00:06:21,800 Speaker 1: Harvard the latest battle the US is freezed, billions of 124 00:06:21,880 --> 00:06:24,600 Speaker 1: dollars frozen, freezed, frozen. 125 00:06:24,800 --> 00:06:27,960 Speaker 2: Why isn't it freezed? What a crazy language English is? 126 00:06:28,040 --> 00:06:32,279 Speaker 1: Anyway, We the United States, froze billions of dollars in 127 00:06:32,360 --> 00:06:35,119 Speaker 1: funding after Harvard says no, we are going to fight 128 00:06:35,200 --> 00:06:38,960 Speaker 1: Trump's demands, and it's being portrayed on the left as 129 00:06:39,000 --> 00:06:42,440 Speaker 1: a battle in favor of academic freedom, even though in 130 00:06:42,480 --> 00:06:45,719 Speaker 1: our universities there is no academic freedom unless you're progressive. 131 00:06:46,880 --> 00:06:50,400 Speaker 1: We will outline the battle as it stands right now 132 00:06:50,480 --> 00:06:52,400 Speaker 1: for you in the next second. I think there were 133 00:06:52,960 --> 00:06:56,680 Speaker 1: five news articles or opinion pieces in the New York 134 00:06:56,760 --> 00:06:58,640 Speaker 1: Times today about what a horror this is that the 135 00:06:58,680 --> 00:07:03,120 Speaker 1: Trump administration is out too to kill higher education. Stop research, 136 00:07:03,600 --> 00:07:08,080 Speaker 1: is anti science's anti the free exchange of ideas. How 137 00:07:08,160 --> 00:07:12,800 Speaker 1: dare they I uphold our faculty, and ninety eight percent 138 00:07:12,880 --> 00:07:16,080 Speaker 1: of them, who're all progressives, agreed. We have the free 139 00:07:16,120 --> 00:07:20,480 Speaker 1: exchange of ideas. I've got a great example to fit 140 00:07:20,520 --> 00:07:22,720 Speaker 1: in with that that it just occurred to me yesterday too. 141 00:07:22,880 --> 00:07:23,480 Speaker 2: Stay tuned. 142 00:07:26,920 --> 00:07:29,120 Speaker 1: What do you get for a forty thousand dollars a 143 00:07:29,200 --> 00:07:35,440 Speaker 1: year gym membership? Not new thing is these very expensive 144 00:07:35,480 --> 00:07:38,440 Speaker 1: gym memberships that you get a lot for Now, none 145 00:07:38,480 --> 00:07:40,040 Speaker 1: of us are going to do a forty thousand dollars 146 00:07:40,080 --> 00:07:44,360 Speaker 1: gym membership, but there are other more affordable examples and 147 00:07:44,440 --> 00:07:45,520 Speaker 1: everything that comes with it. 148 00:07:45,520 --> 00:07:48,240 Speaker 2: It might be the new thing. So stay tuned for. 149 00:07:48,200 --> 00:07:51,840 Speaker 1: That interesting plus our favorite tax expert next segment to 150 00:07:51,880 --> 00:07:54,560 Speaker 1: talk to us about what's new, what common mistakes happen. 151 00:07:54,640 --> 00:07:56,880 Speaker 2: That sort of thing gets you learned up on your taxes. 152 00:07:58,400 --> 00:08:02,000 Speaker 1: So Abraham Lincoln warn us that the United States will 153 00:08:02,000 --> 00:08:04,440 Speaker 1: never be destroyed by an outside force, or at least 154 00:08:04,440 --> 00:08:06,280 Speaker 1: not in the foreseeable future. And I agree with them 155 00:08:06,320 --> 00:08:10,200 Speaker 1: there if we crumble, it will be of our own doing. 156 00:08:10,360 --> 00:08:15,720 Speaker 1: And around here we believe quite sincerely that while various 157 00:08:15,800 --> 00:08:22,520 Speaker 1: wars and negotiations are incredibly important, people are dying, it's 158 00:08:22,560 --> 00:08:25,840 Speaker 1: not going to end the United States the trade war thing, 159 00:08:25,880 --> 00:08:26,560 Speaker 1: the tariff thing. 160 00:08:26,640 --> 00:08:28,520 Speaker 2: It might screw up the economy, It might. 161 00:08:28,440 --> 00:08:30,680 Speaker 1: Be brilliant, might be a disaster, But either way, we 162 00:08:30,760 --> 00:08:33,360 Speaker 1: will muddle on, straighten things out, and go forward in 163 00:08:33,440 --> 00:08:38,400 Speaker 1: the future. I believe the rot in our institutions of 164 00:08:38,480 --> 00:08:43,360 Speaker 1: learning K through PhD, where it's become a progressive factory 165 00:08:43,640 --> 00:08:47,480 Speaker 1: to indoctrinate young people into hating their country and Western civilization. 166 00:08:47,960 --> 00:08:49,839 Speaker 2: I think that could undo us. 167 00:08:50,320 --> 00:08:53,520 Speaker 1: If we have generation after a generation of Americans who 168 00:08:54,120 --> 00:08:56,080 Speaker 1: do not buy into the principles of this country and 169 00:08:56,120 --> 00:08:58,840 Speaker 1: do not love it, we will fall apart as a country. Anyway, 170 00:08:59,480 --> 00:09:04,120 Speaker 1: It's just a setting the scene headline. US phreezes billions 171 00:09:04,160 --> 00:09:07,000 Speaker 1: in funding after Harvard says it will fight Trump's demands. 172 00:09:07,080 --> 00:09:10,480 Speaker 1: You remember how Trump threatened Columbia and pen and a 173 00:09:10,480 --> 00:09:12,839 Speaker 1: couple of other places and said, look, you got to 174 00:09:12,840 --> 00:09:16,400 Speaker 1: follow federal law on hiring. You can't have these loyalty oaths, 175 00:09:16,480 --> 00:09:20,240 Speaker 1: these dei statements, et cetera, or we're not going to 176 00:09:20,280 --> 00:09:23,240 Speaker 1: fund your research anymore. And a lot of them came 177 00:09:23,240 --> 00:09:25,280 Speaker 1: around and said, yeah, yeah, we see your point. Okay, 178 00:09:25,360 --> 00:09:27,760 Speaker 1: we'll switch this around. We won't do this anymore, and 179 00:09:27,760 --> 00:09:30,080 Speaker 1: we won't admit people based on race, because that's the law. 180 00:09:30,600 --> 00:09:34,040 Speaker 1: Harvard has said, yeah, look at my well funded middle 181 00:09:34,040 --> 00:09:39,920 Speaker 1: finger and said absolutely no to the Trump Administration's interesting 182 00:09:39,960 --> 00:09:43,440 Speaker 1: that Columbia caved so quickly and Harvard is gonna fight it. 183 00:09:44,040 --> 00:09:44,240 Speaker 4: Well. 184 00:09:44,320 --> 00:09:46,720 Speaker 1: Part of what happened was, and I should have included this, 185 00:09:46,920 --> 00:09:49,920 Speaker 1: is that the Trump administration was horrified by the overt 186 00:09:50,040 --> 00:09:55,200 Speaker 1: anti semitism of the Up with Hamas crowd and how 187 00:09:55,280 --> 00:09:58,440 Speaker 1: they have been violating federal law over and over again 188 00:09:58,480 --> 00:10:02,360 Speaker 1: with impunity at these universities because Up with the Palestinians, 189 00:10:02,400 --> 00:10:05,400 Speaker 1: Up with Hamas is seen as a progressive cause and 190 00:10:05,480 --> 00:10:08,400 Speaker 1: so actually I think as a door to get into 191 00:10:08,440 --> 00:10:10,880 Speaker 1: the universities to force them to do what they ought 192 00:10:10,880 --> 00:10:11,240 Speaker 1: to be doing. 193 00:10:11,280 --> 00:10:11,319 Speaker 4: It. 194 00:10:11,520 --> 00:10:16,000 Speaker 1: It's kind of handy, but so Harvard said money it 195 00:10:16,040 --> 00:10:18,959 Speaker 1: would resist the Trump's administrations demands to change its governance 196 00:10:18,960 --> 00:10:22,160 Speaker 1: structure over campus anti semitism concerns. Seeing the governments it's 197 00:10:22,200 --> 00:10:25,600 Speaker 1: overstepping its authority. Hours later, the government announced a two 198 00:10:25,679 --> 00:10:30,080 Speaker 1: point twenty six billion dollar freeze of Harvard's multi year 199 00:10:30,120 --> 00:10:36,480 Speaker 1: grants and contracts, said Harvard President Alan Garber, one of 200 00:10:36,600 --> 00:10:39,360 Speaker 1: two out of ten ivy leaved schools, that's led by 201 00:10:39,360 --> 00:10:42,839 Speaker 1: a dude, because it's much more progressive to be led 202 00:10:42,880 --> 00:10:45,120 Speaker 1: by a woman, a gay woman, if you can a 203 00:10:45,160 --> 00:10:48,480 Speaker 1: gay black woman, if you can a black woman named gay. 204 00:10:48,720 --> 00:10:51,280 Speaker 2: In the case of Harvard until. 205 00:10:51,040 --> 00:10:55,360 Speaker 1: Fairly recently, back to the text anyway, Harvard President Alan 206 00:10:55,400 --> 00:10:58,480 Speaker 1: Garber said, quote, the university will not surrender its independence 207 00:10:58,679 --> 00:11:00,760 Speaker 1: or relinquish its constitutione utional rights. 208 00:11:01,800 --> 00:11:04,160 Speaker 2: Trump administration said the school's response. 209 00:11:03,880 --> 00:11:07,640 Speaker 1: Quote reinforces the troubling entitlement mindset that is endemic in 210 00:11:07,679 --> 00:11:11,480 Speaker 1: our nation's most prestigious universities and colleges. That federal investment 211 00:11:11,559 --> 00:11:14,920 Speaker 1: does not come with the responsibility to uphold civil rights laws. 212 00:11:16,559 --> 00:11:20,199 Speaker 1: It's so interesting, isn't it that? And that is absolutely 213 00:11:20,240 --> 00:11:23,440 Speaker 1: undeniably true. We're talking about civil rights laws. You cannot 214 00:11:23,880 --> 00:11:27,199 Speaker 1: beat a black man to prevent him from attending class. 215 00:11:27,720 --> 00:11:31,440 Speaker 1: You cannot threaten a Jewish girl to terrify her out 216 00:11:31,440 --> 00:11:35,720 Speaker 1: of the library. That is a civil rights enforcement issue, 217 00:11:36,320 --> 00:11:40,840 Speaker 1: and Progressive America is standing staunchly in favor of keeping 218 00:11:40,880 --> 00:11:45,760 Speaker 1: the Jews out in effect and conservatives out. 219 00:11:45,840 --> 00:11:48,000 Speaker 2: Did you see uh? 220 00:11:48,080 --> 00:11:49,480 Speaker 1: I don't want to get too bogged down on this, 221 00:11:49,600 --> 00:11:51,920 Speaker 1: but did you see that a ven diagram thing that 222 00:11:52,000 --> 00:11:54,640 Speaker 1: was making the floating around on social media over the weekend, 223 00:11:54,920 --> 00:11:58,640 Speaker 1: where you had the far right is a circle, the 224 00:11:58,679 --> 00:12:02,000 Speaker 1: far left is a circle, and fundamentalist Islam is a circle. 225 00:12:02,200 --> 00:12:05,720 Speaker 1: And the one thing all three circles converge on is 226 00:12:06,200 --> 00:12:09,959 Speaker 1: we hate Jews right in America, far right, far left, 227 00:12:10,040 --> 00:12:13,800 Speaker 1: unlike the Jews and fundamentalist Islam. 228 00:12:13,880 --> 00:12:17,320 Speaker 2: That's a problem, yeah, if you're Jewish. 229 00:12:17,640 --> 00:12:20,880 Speaker 1: So the Trump Administration Task Force on Anti Semitism wrote 230 00:12:20,920 --> 00:12:23,560 Speaker 1: to school earlier asking it to take nine actions quote 231 00:12:23,559 --> 00:12:26,720 Speaker 1: that we regard as necessary for Harvard University's continued financial 232 00:12:26,760 --> 00:12:29,480 Speaker 1: relationship with the United States government. Most of the demands 233 00:12:29,480 --> 00:12:31,920 Speaker 1: concerned how the university operates. The government is asking for 234 00:12:31,960 --> 00:12:36,040 Speaker 1: a comprehensive mask ban, as well as changes to governance, leadership, 235 00:12:36,040 --> 00:12:39,760 Speaker 1: and admissions, and an end to DEI programs. Notably, the 236 00:12:39,800 --> 00:12:42,280 Speaker 1: government is also seeking to reach into the classroom. 237 00:12:42,480 --> 00:12:44,400 Speaker 2: Gets a little controversial. 238 00:12:43,760 --> 00:12:47,800 Speaker 1: Here, demanding quote necessary changes be made to address bias, 239 00:12:48,080 --> 00:12:53,760 Speaker 1: improve viewpoint diversity, and end ideological capture which fuel anti 240 00:12:54,200 --> 00:12:55,199 Speaker 1: Semitic harassment. 241 00:12:55,240 --> 00:12:57,319 Speaker 2: To task forces, letter said. 242 00:12:57,160 --> 00:13:00,320 Speaker 1: I would like that stuff to happen, but I don't 243 00:13:00,320 --> 00:13:02,439 Speaker 1: see how you can force that to happen without getting 244 00:13:02,440 --> 00:13:04,120 Speaker 1: into a real dangerous territory. 245 00:13:04,960 --> 00:13:06,600 Speaker 2: That is such an interesting question. 246 00:13:06,920 --> 00:13:13,200 Speaker 1: If you have a ninety four percent progressive faculty in 247 00:13:13,240 --> 00:13:18,600 Speaker 1: a school that gets any government funding whatsoever, conservative is 248 00:13:18,600 --> 00:13:22,440 Speaker 1: not a protected class, right, It's difficult to make that 249 00:13:22,559 --> 00:13:25,320 Speaker 1: into a civil rights issue with the teeth of the 250 00:13:25,440 --> 00:13:29,120 Speaker 1: law behind you. Well, and it's an interesting conundrum. And 251 00:13:29,240 --> 00:13:31,320 Speaker 1: you can see where if you allowed this, how out 252 00:13:31,320 --> 00:13:35,840 Speaker 1: of control it could get. Who's going to define, you know, 253 00:13:35,880 --> 00:13:38,520 Speaker 1: what the politics ought to be of the college at 254 00:13:38,520 --> 00:13:39,520 Speaker 1: what percentage? 255 00:13:40,200 --> 00:13:41,240 Speaker 2: And how do you enforce it? 256 00:13:41,440 --> 00:13:43,000 Speaker 5: Yeah? 257 00:13:43,120 --> 00:13:45,520 Speaker 1: Right, how do you define who's a conservative, who's a 258 00:13:45,559 --> 00:13:49,120 Speaker 1: moderate conservative, who's a far right person? Yeah, it's a 259 00:13:49,280 --> 00:13:51,520 Speaker 1: it's opening a Pandora's box. But at the same time, 260 00:13:52,040 --> 00:13:56,000 Speaker 1: something like that has to happen or it will tear 261 00:13:56,040 --> 00:13:59,120 Speaker 1: the country apartment. Don't you feel like market forces are 262 00:13:59,160 --> 00:14:02,560 Speaker 1: working at this right now? Where Yes, you know, a 263 00:14:02,600 --> 00:14:05,720 Speaker 1: degree from Columbia and Harvard. I think there's lots of 264 00:14:05,720 --> 00:14:08,520 Speaker 1: people in the country. They see that on a resume 265 00:14:08,559 --> 00:14:11,800 Speaker 1: and they think, oh no, they don't think, yes, Harvard 266 00:14:11,800 --> 00:14:14,360 Speaker 1: grad wants to work there. Do you think danger danger? 267 00:14:14,600 --> 00:14:14,880 Speaker 2: Yeah? 268 00:14:14,960 --> 00:14:18,080 Speaker 1: Yeah, yeah, exactly, Yeah, I do think that and other 269 00:14:18,120 --> 00:14:21,560 Speaker 1: schools are opening up and proudly proclaiming themselves to be 270 00:14:21,760 --> 00:14:25,080 Speaker 1: actual centers of the free exchange of ideas, whether it's 271 00:14:25,120 --> 00:14:29,480 Speaker 1: a University of Austin, North Carolina has got established a 272 00:14:29,480 --> 00:14:33,040 Speaker 1: brand new college within the university. That's all about free inquiry, 273 00:14:33,080 --> 00:14:35,480 Speaker 1: which is what the whole gd thing is. 274 00:14:35,440 --> 00:14:37,000 Speaker 2: Supposed to be doing. Anyway. 275 00:14:37,560 --> 00:14:39,640 Speaker 1: The headline in the New York Times, as Jack mentioned, 276 00:14:39,680 --> 00:14:43,520 Speaker 1: Harvard's decision to resist Trump is ament is of moments 277 00:14:43,880 --> 00:14:47,520 Speaker 1: momentous significance. Sorry, but a fight with the nation's oldest, richest, 278 00:14:47,560 --> 00:14:50,120 Speaker 1: and most elite university is a battle to President Trump 279 00:14:50,120 --> 00:14:53,680 Speaker 1: and is powerful. Ad Stephen Miller want to have I 280 00:14:53,680 --> 00:14:55,120 Speaker 1: think that's actually true. 281 00:14:55,360 --> 00:14:58,880 Speaker 2: Yep. But Elizabeth bum Miller. 282 00:15:00,240 --> 00:15:04,160 Speaker 1: From Washington is talking about how the Trump administration is 283 00:15:04,400 --> 00:15:09,120 Speaker 1: demanding all sorts of unreasonable things and controlling the university 284 00:15:09,120 --> 00:15:12,000 Speaker 1: and how significant this is and wonderful blah blah blah. 285 00:15:12,080 --> 00:15:14,320 Speaker 1: I thought it was interesting that she also mentions, just 286 00:15:14,440 --> 00:15:17,160 Speaker 1: point of interest, Harvard University is one hundred and forty 287 00:15:17,240 --> 00:15:21,240 Speaker 1: years older than the United States. Yeah, has an endowment 288 00:15:21,360 --> 00:15:26,200 Speaker 1: greater than the GDP of nearly one hundred countries. Yeah, 289 00:15:26,200 --> 00:15:30,640 Speaker 1: that's amazing and then finally, the Wall Street Journal was 290 00:15:30,880 --> 00:15:35,400 Speaker 1: describing how this battle is being waged, and it's kind 291 00:15:35,400 --> 00:15:41,800 Speaker 1: of interesting. It has to do with a Health and 292 00:15:41,920 --> 00:15:46,040 Speaker 1: Human Services official who's part of a little known government 293 00:15:46,080 --> 00:15:50,520 Speaker 1: task force that's shaken elite universities, targeted billions of dollars 294 00:15:50,560 --> 00:15:53,880 Speaker 1: in federal funding, taken on to Columbia and Harvard, et cetera, 295 00:15:53,920 --> 00:15:58,520 Speaker 1: et cetera. It's called the Task Force to Combat Anti Semitism, 296 00:15:59,800 --> 00:16:01,800 Speaker 1: and the group's stated goal is to root out anti 297 00:16:01,800 --> 00:16:05,800 Speaker 1: Semitic harassment at schools and on college campuses. But along 298 00:16:05,800 --> 00:16:08,280 Speaker 1: the way, the task Force is taking on university culture 299 00:16:08,320 --> 00:16:10,760 Speaker 1: more broadly in ways that echo the MAGA dreams for 300 00:16:10,840 --> 00:16:15,000 Speaker 1: remaking higher education, including racial ending, racial preferences, and hiring 301 00:16:15,120 --> 00:16:20,080 Speaker 1: and admission. But it's a very small part of the 302 00:16:20,280 --> 00:16:25,040 Speaker 1: HHS that is kind of the tip of the spear 303 00:16:25,160 --> 00:16:28,520 Speaker 1: doing this stuff. And I can't wait to watch this unfold. 304 00:16:28,840 --> 00:16:32,080 Speaker 1: As I've probably over emphasized, I think it's one of 305 00:16:32,080 --> 00:16:35,120 Speaker 1: the most important things going on in America today, even 306 00:16:35,160 --> 00:16:36,640 Speaker 1: though it's under most people's radar. 307 00:16:37,440 --> 00:16:39,320 Speaker 2: It' tosay, April fifteenth, It's tax Day. 308 00:16:39,360 --> 00:16:41,880 Speaker 1: We're going to talk to our friend Steven Moskowitz tax 309 00:16:41,920 --> 00:16:45,680 Speaker 1: attorney about the kind of state of taxes today and 310 00:16:45,760 --> 00:16:49,400 Speaker 1: make common mistakes and things you should keep your eye on. 311 00:16:49,600 --> 00:16:52,720 Speaker 1: Oof death and taxes, man, only two things you can 312 00:16:52,760 --> 00:16:55,960 Speaker 1: count on on this planet. Can practically guarantee you'll get 313 00:16:56,000 --> 00:16:58,400 Speaker 1: some good advice out of it, something you'll want to 314 00:16:58,400 --> 00:17:01,600 Speaker 1: look into in your own finance. Maybe later we'll get 315 00:17:01,600 --> 00:17:05,600 Speaker 1: to that dude who set fire to the Pennsylvania governor's mansion. 316 00:17:05,640 --> 00:17:12,119 Speaker 2: That's an interesting story. Total Toildren, Armstrong and Getty Pappy 317 00:17:12,240 --> 00:17:12,680 Speaker 2: tax today. 318 00:17:12,720 --> 00:17:16,959 Speaker 1: Everybody, good news is whatever money you're given the government 319 00:17:17,000 --> 00:17:19,160 Speaker 1: that you worked hard for, it's going to be spent 320 00:17:19,359 --> 00:17:22,879 Speaker 1: wisely and in a way better than you could have 321 00:17:22,920 --> 00:17:27,080 Speaker 1: spent it. Oh yeah, absolutely, you and your children and 322 00:17:27,119 --> 00:17:28,040 Speaker 1: your needs. 323 00:17:28,440 --> 00:17:30,080 Speaker 2: So I didn't hear the latest update. Do we have 324 00:17:30,280 --> 00:17:30,960 Speaker 2: our guest or No? 325 00:17:31,760 --> 00:17:35,160 Speaker 1: Not as yet? Okay, still efforting that. So here's something 326 00:17:35,960 --> 00:17:37,560 Speaker 1: I don't know if we'll ever figure out. 327 00:17:39,240 --> 00:17:40,080 Speaker 2: So we have. 328 00:17:41,680 --> 00:17:44,640 Speaker 1: A higher tolerance right now in the country for political 329 00:17:44,720 --> 00:17:49,000 Speaker 1: violence than we've had since the early seventies, I feel like, 330 00:17:50,680 --> 00:17:54,480 Speaker 1: and we're getting more of it. But every example of 331 00:17:54,520 --> 00:17:57,840 Speaker 1: it that happens, the person is crazy. So how does 332 00:17:57,920 --> 00:18:03,800 Speaker 1: that fit together? Because crazy people are crazy. So I 333 00:18:03,800 --> 00:18:07,320 Speaker 1: don't know how you fit that in with the zeitgeist 334 00:18:07,400 --> 00:18:10,280 Speaker 1: or whatever. Does the zeitgeist reach crazy people? But anyway, 335 00:18:11,880 --> 00:18:16,240 Speaker 1: the guy that set the Pennsylvania governor mansion on fire. 336 00:18:16,240 --> 00:18:17,639 Speaker 2: Was completely nuts. 337 00:18:19,320 --> 00:18:22,399 Speaker 1: Yet it fits into a pattern of more political violence, 338 00:18:22,440 --> 00:18:24,359 Speaker 1: and we can talk more about that later. We'll get 339 00:18:24,400 --> 00:18:26,080 Speaker 1: into the details of this guy's background. 340 00:18:26,119 --> 00:18:27,040 Speaker 2: I mean, he's a nut. 341 00:18:27,000 --> 00:18:30,440 Speaker 1: Job, but first let's talk taxes with Steven Moscowitz, the 342 00:18:30,480 --> 00:18:33,240 Speaker 1: founder and tax attorney at moscow at'z LLP. Long time 343 00:18:33,359 --> 00:18:35,919 Speaker 1: a friend of The Armstrong and Giddy Show and advisor 344 00:18:36,000 --> 00:18:37,680 Speaker 1: on matters tax as well. 345 00:18:37,720 --> 00:18:40,320 Speaker 2: Steven, how are you doing great? 346 00:18:40,440 --> 00:18:41,800 Speaker 4: My favorite day of the year. 347 00:18:43,320 --> 00:18:44,160 Speaker 2: Yeah, not mine. 348 00:18:44,440 --> 00:18:47,960 Speaker 1: Yeah, you're the only one, but sore. You're always brimming 349 00:18:48,080 --> 00:18:51,439 Speaker 1: with interesting tax talk. You love your job as much 350 00:18:51,480 --> 00:18:54,120 Speaker 1: as anybody in America. So what's the top of mind 351 00:18:54,160 --> 00:18:57,399 Speaker 1: for you today to communicate to the good folks? 352 00:18:57,920 --> 00:19:01,639 Speaker 4: You know, there's so much haven't done your tax return 353 00:19:01,760 --> 00:19:05,600 Speaker 4: by now? Don't be like in the movies, work until midnight, 354 00:19:05,640 --> 00:19:08,280 Speaker 4: they get it out. Go on extension now, the extension 355 00:19:08,320 --> 00:19:10,760 Speaker 4: and extension of time to file, not an extension of 356 00:19:10,760 --> 00:19:12,720 Speaker 4: time to pay. But if you can't pay your taxes, 357 00:19:13,480 --> 00:19:16,600 Speaker 4: don't make the mistake of not final return file it. 358 00:19:16,760 --> 00:19:19,199 Speaker 4: Pay what you can and then you can do a 359 00:19:19,240 --> 00:19:21,720 Speaker 4: monthly payment plan. And you know, I know in the 360 00:19:21,800 --> 00:19:26,439 Speaker 4: movies the irs is portrayed as monsters, they're not. You know, 361 00:19:26,520 --> 00:19:28,760 Speaker 4: like any large group, there's always a bad apple and 362 00:19:28,800 --> 00:19:30,919 Speaker 4: there's always somebody great. But most of them are just 363 00:19:30,960 --> 00:19:34,159 Speaker 4: doing their job. If you're reasonable with them, they'll be 364 00:19:34,240 --> 00:19:37,040 Speaker 4: reasonable for you. You can work something out. You don't 365 00:19:37,080 --> 00:19:39,880 Speaker 4: have to be afraid of it. You can work something out. 366 00:19:40,119 --> 00:19:43,560 Speaker 4: That's what we do for people. But the bottom line 367 00:19:43,640 --> 00:19:46,000 Speaker 4: is these problems are fixable. And I've seen over the 368 00:19:46,080 --> 00:19:49,320 Speaker 4: years so many people. They go into hiding. They do 369 00:19:49,400 --> 00:19:53,040 Speaker 4: these horrible things. They punish themselves, way worse than the 370 00:19:53,080 --> 00:19:56,399 Speaker 4: government ever would, and there's no need for that. On 371 00:19:56,440 --> 00:20:00,320 Speaker 4: the other hand, there's so many tax benefits. If you're 372 00:20:00,320 --> 00:20:02,360 Speaker 4: a do it yourself or there's a lot of good 373 00:20:02,400 --> 00:20:05,760 Speaker 4: things to read, you might also want to consider talking 374 00:20:05,800 --> 00:20:10,240 Speaker 4: to somebody. There's so many advantages, especially if you're in business. 375 00:20:10,480 --> 00:20:12,280 Speaker 4: You take a look at the fortune five hundred and 376 00:20:12,320 --> 00:20:15,320 Speaker 4: that's one of the things that originally motivated me to 377 00:20:15,359 --> 00:20:16,879 Speaker 4: become a tax attorney because you know, I was a 378 00:20:16,880 --> 00:20:21,639 Speaker 4: CPA first, and then I watched these giant corporations making 379 00:20:22,080 --> 00:20:26,160 Speaker 4: billions of dollars and legally paying little or no taxes, 380 00:20:26,320 --> 00:20:29,919 Speaker 4: And how can that be? Our tax law is based 381 00:20:29,920 --> 00:20:33,520 Speaker 4: on two things. One getting money from us. We all 382 00:20:33,560 --> 00:20:36,720 Speaker 4: know about that one, but the other one. In a democracy, 383 00:20:36,840 --> 00:20:40,480 Speaker 4: the government can't order us to do things, but they 384 00:20:40,520 --> 00:20:43,080 Speaker 4: want us to do things because it's good for the economy. 385 00:20:43,119 --> 00:20:45,840 Speaker 4: So how they get to do it They pay us. 386 00:20:46,480 --> 00:20:49,400 Speaker 4: And that's the secret of all these tax deductions. There's 387 00:20:49,440 --> 00:20:53,040 Speaker 4: all kinds of tax incentives. We see some ones like 388 00:20:53,760 --> 00:20:57,920 Speaker 4: buying a house you get a tax deduction for mortgage 389 00:20:57,920 --> 00:21:01,160 Speaker 4: interest in real estate taxes. You set up a pension 390 00:21:01,240 --> 00:21:04,240 Speaker 4: for yourself, you get a tax deduction for that. There's 391 00:21:04,400 --> 00:21:10,640 Speaker 4: so many benefits where if you have depreciation on machinery 392 00:21:10,800 --> 00:21:15,000 Speaker 4: or buildings, there's ways to accelerate that and get way 393 00:21:15,119 --> 00:21:18,320 Speaker 4: more if these huge deductions. Another thing, to me, the 394 00:21:18,320 --> 00:21:24,080 Speaker 4: most beautiful words in the English language are a positive 395 00:21:24,240 --> 00:21:32,080 Speaker 4: cash flow with a tax loss. Isn't it in your life? 396 00:21:32,280 --> 00:21:33,960 Speaker 4: I mean, it brings it dear to the eye. It's 397 00:21:33,960 --> 00:21:40,280 Speaker 4: so emotional to me. And the bottom line is there's 398 00:21:40,520 --> 00:21:43,159 Speaker 4: so much there where you can you can benefit. And 399 00:21:43,200 --> 00:21:46,480 Speaker 4: I mean there's benefits for everything. It's not just for 400 00:21:46,560 --> 00:21:49,919 Speaker 4: its people, it's for everything. If you're on the lower 401 00:21:50,240 --> 00:21:53,560 Speaker 4: into the income scale, the government gives you all kinds 402 00:21:53,600 --> 00:21:57,240 Speaker 4: of benefits for you, for your kids, family members. If 403 00:21:57,240 --> 00:21:59,680 Speaker 4: you're on the other end, there's ways that you can 404 00:21:59,840 --> 00:22:02,480 Speaker 4: go up to your yachts and everything in between. The 405 00:22:02,520 --> 00:22:06,560 Speaker 4: tax law has something for everybody in it. It's worth 406 00:22:06,560 --> 00:22:09,680 Speaker 4: it knowing it's studying or going as somebody does. There's 407 00:22:09,800 --> 00:22:13,359 Speaker 4: just so much there, and yet so many people treat 408 00:22:13,400 --> 00:22:16,399 Speaker 4: it with despair and it's horrible. It's not you have 409 00:22:16,480 --> 00:22:19,160 Speaker 4: to take a look at all the good things they're there. 410 00:22:19,240 --> 00:22:20,399 Speaker 4: You just have to know about it. 411 00:22:20,760 --> 00:22:23,200 Speaker 1: So we talk a lot about You've talked a lot 412 00:22:23,200 --> 00:22:26,080 Speaker 1: about how the complexity of the tax code. I mean, 413 00:22:26,119 --> 00:22:30,520 Speaker 1: if we're starting the tax code today, nobody would want 414 00:22:30,560 --> 00:22:33,119 Speaker 1: to end up with what we currently have, even though 415 00:22:33,160 --> 00:22:35,680 Speaker 1: it's so hard to change. But like when you started 416 00:22:36,600 --> 00:22:40,080 Speaker 1: many years ago, how many pages or rules were there 417 00:22:40,119 --> 00:22:41,000 Speaker 1: compared to today? 418 00:22:42,680 --> 00:22:45,520 Speaker 4: All you know, I remember when I was in grad school, 419 00:22:45,520 --> 00:22:47,800 Speaker 4: the professor actually went over that and he took it 420 00:22:47,800 --> 00:22:52,200 Speaker 4: even back further where he basically showed us with his hands. 421 00:22:52,200 --> 00:22:55,880 Speaker 4: He said, when he started in tax basically the tax 422 00:22:55,960 --> 00:22:58,520 Speaker 4: law was and he opened his fingers to show us. 423 00:22:58,520 --> 00:23:01,000 Speaker 4: Now he said today this is back when I was 424 00:23:01,040 --> 00:23:02,959 Speaker 4: in school. He opened his arms. He said, that's not 425 00:23:03,000 --> 00:23:06,080 Speaker 4: wide enough. And what happens is it's not just the law, 426 00:23:06,119 --> 00:23:09,119 Speaker 4: it's the interpretations. A lot of what we do is 427 00:23:09,200 --> 00:23:13,440 Speaker 4: we argue over what did the legislators and their infinite 428 00:23:13,440 --> 00:23:17,440 Speaker 4: wisdom provide for us? And oftentimes the judges can't agree, 429 00:23:17,760 --> 00:23:20,600 Speaker 4: and so many times will do a settlement because both 430 00:23:20,600 --> 00:23:23,800 Speaker 4: sides say, well, we don't really know what they meant. 431 00:23:24,119 --> 00:23:26,760 Speaker 4: So rather than have the judges aside, let's make a deal. 432 00:23:26,840 --> 00:23:31,720 Speaker 4: And again you see judges disagreeing. You say, appeals judges 433 00:23:31,760 --> 00:23:35,720 Speaker 4: disagreeing with trial judges. It's almost like nobody knows. It's 434 00:23:35,720 --> 00:23:38,760 Speaker 4: a grand mystery, one of the mysteries of life. And 435 00:23:38,840 --> 00:23:42,040 Speaker 4: going through this a cent that really is. I know 436 00:23:42,040 --> 00:23:45,040 Speaker 4: how excited I get about tax law, but it really 437 00:23:45,200 --> 00:23:48,600 Speaker 4: is that the mysteries of life, and in real life, 438 00:23:49,080 --> 00:23:52,480 Speaker 4: it's not a black and white mathematical one plus one 439 00:23:52,560 --> 00:23:56,560 Speaker 4: equals too, that's the right answers. It's like going into 440 00:23:56,560 --> 00:23:59,240 Speaker 4: the museum and looking at the paintings and say, what's 441 00:23:59,240 --> 00:24:02,680 Speaker 4: the most beautiful full painting here. It's a matter of interpretation, 442 00:24:02,840 --> 00:24:04,720 Speaker 4: and there's so much of a tax fall like that. 443 00:24:05,040 --> 00:24:08,440 Speaker 4: What the legislators mean. And when you argue TAXLW that's 444 00:24:08,440 --> 00:24:09,800 Speaker 4: one of other things too. You try to thro what 445 00:24:09,840 --> 00:24:13,560 Speaker 4: did they mean and you negotiate about it to try 446 00:24:13,600 --> 00:24:16,240 Speaker 4: and figure out what they mean. That's something people don't 447 00:24:16,280 --> 00:24:18,240 Speaker 4: realize about tax law. But that's part of the beauty 448 00:24:18,280 --> 00:24:19,680 Speaker 4: of it, or at least the way the system works. 449 00:24:20,359 --> 00:24:20,960 Speaker 2: So Stephen. 450 00:24:21,000 --> 00:24:24,120 Speaker 1: In real life, the topic I've probably heard the most 451 00:24:24,200 --> 00:24:28,639 Speaker 1: from people being confused about is if they're working remotely, 452 00:24:29,040 --> 00:24:31,639 Speaker 1: part time or full time. They've got a home office. 453 00:24:31,680 --> 00:24:36,439 Speaker 1: I've got a home studio. Can you deduct the equipment 454 00:24:36,520 --> 00:24:39,320 Speaker 1: you buy? The chair you're sitting on? What are the 455 00:24:39,320 --> 00:24:41,360 Speaker 1: pros and cons of the your Wi Fi because you're 456 00:24:41,440 --> 00:24:42,160 Speaker 1: using it at home? 457 00:24:42,760 --> 00:24:44,960 Speaker 4: Yeah, you may be able to, and what you have 458 00:24:45,000 --> 00:24:47,560 Speaker 4: to watch out for. The most common is the home office. 459 00:24:48,000 --> 00:24:51,119 Speaker 4: People say, can I deduct the home office now? In 460 00:24:51,240 --> 00:24:53,320 Speaker 4: order to deduct it? The way you do it is 461 00:24:53,400 --> 00:25:00,520 Speaker 4: you say, okay, if you use a portion of your 462 00:25:00,560 --> 00:25:05,640 Speaker 4: home exclusively for business, you can deduct it. And even 463 00:25:05,640 --> 00:25:08,879 Speaker 4: if you're at a studio apartment that's one room. Company you 464 00:25:08,880 --> 00:25:11,199 Speaker 4: do that. The Taxkport has ruled is we use a 465 00:25:11,280 --> 00:25:14,320 Speaker 4: portion of that room exclusively for business. You can do it, 466 00:25:14,320 --> 00:25:16,520 Speaker 4: but you have to watch out. There's a downside to 467 00:25:16,600 --> 00:25:20,359 Speaker 4: doing it. And the downside to doing is it converts 468 00:25:20,480 --> 00:25:25,240 Speaker 4: that portion of your home from your principal residence, which 469 00:25:25,240 --> 00:25:30,320 Speaker 4: has all kinds of tax benefits, into business property, which doesn't. 470 00:25:30,960 --> 00:25:33,800 Speaker 4: So if you sell the house, then all of a 471 00:25:33,840 --> 00:25:36,120 Speaker 4: sudden you learn about things you have to give back, 472 00:25:36,200 --> 00:25:40,760 Speaker 4: like appreciation, recapture and other things. So if you're thinking 473 00:25:40,800 --> 00:25:44,360 Speaker 4: about deducting home office, you can do it if you qualify, 474 00:25:44,480 --> 00:25:46,399 Speaker 4: but you may not want to do that. 475 00:25:46,600 --> 00:25:49,080 Speaker 1: Then we've never thought about the end when you go 476 00:25:49,119 --> 00:25:50,960 Speaker 1: to sell your house and that that that's not a house, 477 00:25:51,000 --> 00:25:53,840 Speaker 1: that's an officer selling, and here's the everything that goes. 478 00:25:53,640 --> 00:25:57,600 Speaker 5: With that exactly. So the bottom line is it's kind 479 00:25:57,600 --> 00:25:59,520 Speaker 5: of like medicine. This is a good medicine book as 480 00:25:59,520 --> 00:26:01,800 Speaker 5: a side of which may or may not affect you. 481 00:26:01,880 --> 00:26:06,080 Speaker 5: So we talk about that, and the bottom line is 482 00:26:06,240 --> 00:26:07,240 Speaker 5: another thing that's. 483 00:26:07,080 --> 00:26:10,240 Speaker 4: Really good for evil is if you're an independent contractor, 484 00:26:10,920 --> 00:26:14,000 Speaker 4: you set up your own business and then you take 485 00:26:14,280 --> 00:26:18,440 Speaker 4: pension deductions retirement, and there's so many benefits. You get 486 00:26:18,440 --> 00:26:21,879 Speaker 4: a big tax deduction, and one of the things with retirement, 487 00:26:21,960 --> 00:26:25,239 Speaker 4: like we're here, it is it's a POL fifteen and 488 00:26:25,280 --> 00:26:27,600 Speaker 4: you say, well, these are all good things for next year, 489 00:26:27,880 --> 00:26:30,159 Speaker 4: but there's some things you can still do. Suppose you 490 00:26:30,200 --> 00:26:35,040 Speaker 4: put your return on extension today. There's many different types 491 00:26:35,080 --> 00:26:40,280 Speaker 4: of pensions, most but not all of them provide for 492 00:26:40,480 --> 00:26:43,200 Speaker 4: an exceptional tax plan because most things with tax plane 493 00:26:43,240 --> 00:26:45,320 Speaker 4: you have to write the check by December thirty, first 494 00:26:45,359 --> 00:26:48,040 Speaker 4: twenty four deductor twenty four. Not with most of the 495 00:26:48,080 --> 00:26:51,040 Speaker 4: pension planets, so up to the time filing the return 496 00:26:51,080 --> 00:26:54,879 Speaker 4: plus extension, which means suppose you put your return on 497 00:26:54,960 --> 00:26:59,200 Speaker 4: extension today, that gives you half the year to set 498 00:26:59,280 --> 00:27:01,960 Speaker 4: up the tension in twenty twenty five, fund it in 499 00:27:01,960 --> 00:27:06,240 Speaker 4: twenty twenty five, and then you can elect to deduct 500 00:27:06,320 --> 00:27:08,880 Speaker 4: it from your twenty four taxes. So the bottom line, 501 00:27:08,880 --> 00:27:12,560 Speaker 4: think about you earned money last year, you have another 502 00:27:12,640 --> 00:27:16,160 Speaker 4: six months happy year to earn money, put it away 503 00:27:16,200 --> 00:27:20,120 Speaker 4: for yourself, and take a deduction for last year twenty four. 504 00:27:20,200 --> 00:27:22,119 Speaker 4: I mean, for me, this is just fascinating. 505 00:27:22,760 --> 00:27:24,560 Speaker 1: So that would be like a small business person and 506 00:27:24,720 --> 00:27:26,760 Speaker 1: had a really great twenty twenty four and is getting 507 00:27:26,760 --> 00:27:29,879 Speaker 1: hammered with taxes. It can in effect shield some of 508 00:27:29,880 --> 00:27:33,840 Speaker 1: that income from tax by putting it in a pension 509 00:27:33,840 --> 00:27:35,200 Speaker 1: plan like retroactively. 510 00:27:36,480 --> 00:27:40,000 Speaker 4: Ah. And when somebody gives you something nice, what do 511 00:27:40,040 --> 00:27:45,359 Speaker 4: you say, thank you? Well, lawyer says more, I want more. 512 00:27:46,000 --> 00:27:50,399 Speaker 4: And what happens is with the really great year you 513 00:27:50,440 --> 00:27:54,440 Speaker 4: talked about with the pension plans, if you had a 514 00:27:54,480 --> 00:27:56,760 Speaker 4: fantastic year, one of the things you can do they're 515 00:27:56,760 --> 00:28:03,960 Speaker 4: so flexible, is you can make multiple plan year contributions 516 00:28:03,960 --> 00:28:10,640 Speaker 4: in one calendar year and get a much much bigger 517 00:28:10,880 --> 00:28:14,720 Speaker 4: deduction for that year. So suppose you are salesman or 518 00:28:15,240 --> 00:28:17,120 Speaker 4: something else. You have big sale, you need a lot 519 00:28:17,160 --> 00:28:20,080 Speaker 4: of money. What you want to do is you want 520 00:28:20,119 --> 00:28:22,080 Speaker 4: to get looks that it was twenty four. He said, 521 00:28:22,080 --> 00:28:24,280 Speaker 4: I'm looking at these taxes. I hate all these taxes. 522 00:28:24,880 --> 00:28:26,800 Speaker 4: So you set up the pension plans. And by the way, 523 00:28:26,840 --> 00:28:29,280 Speaker 4: you can have multiple pension plans in the same year. 524 00:28:29,720 --> 00:28:33,040 Speaker 4: You set up multiple pension plans and then you make 525 00:28:33,359 --> 00:28:37,360 Speaker 4: multiple plane near contributions in one calendar year. You get 526 00:28:37,359 --> 00:28:41,719 Speaker 4: a gigantic deduction against that fantastic year, and that's one 527 00:28:41,720 --> 00:28:43,520 Speaker 4: of the ways you don't pay taxes on it. Say 528 00:28:43,520 --> 00:28:45,640 Speaker 4: this stuff really lives done. 529 00:28:45,640 --> 00:28:48,120 Speaker 1: And then you end up taking it out years down 530 00:28:48,160 --> 00:28:50,560 Speaker 1: the road when you're paying it a much lower rate. 531 00:28:50,960 --> 00:28:52,320 Speaker 2: Theoretically, all right, we've got it. 532 00:28:52,480 --> 00:28:55,120 Speaker 1: Like two more minutes, Stephen, anything else you want to 533 00:28:55,160 --> 00:28:56,760 Speaker 1: squeeze in before we let. 534 00:28:56,680 --> 00:29:01,800 Speaker 4: You go, Yes, before where you send your taxes in. 535 00:29:02,000 --> 00:29:04,560 Speaker 4: You really want to learn as much as you can, 536 00:29:05,120 --> 00:29:08,600 Speaker 4: either on your own from reading or going to somebody 537 00:29:08,640 --> 00:29:12,480 Speaker 4: that does this, because most people cheat on their taxes. 538 00:29:13,520 --> 00:29:18,160 Speaker 4: They cheat themselves by not taking everything to which they're entitled. 539 00:29:18,280 --> 00:29:21,960 Speaker 4: And you know, there's just so much to the tax law. 540 00:29:22,000 --> 00:29:25,440 Speaker 4: I know it's really complex, but there's so many benefits 541 00:29:25,440 --> 00:29:27,760 Speaker 4: for you. So the bottom line is, like so many 542 00:29:27,760 --> 00:29:29,800 Speaker 4: other things in life, you get out of it what 543 00:29:29,880 --> 00:29:32,440 Speaker 4: you put into it, learn about it, or go to 544 00:29:32,480 --> 00:29:35,880 Speaker 4: somebody that does this for a living, and you can 545 00:29:36,080 --> 00:29:41,000 Speaker 4: really benefit. You See, there's so much difference in people's taxes. 546 00:29:41,000 --> 00:29:44,280 Speaker 4: And again my example is the fortune five hundred. Look 547 00:29:44,320 --> 00:29:48,320 Speaker 4: at all the money they make. Look at how little 548 00:29:48,400 --> 00:29:50,360 Speaker 4: or nothing to pay in taxes. That's not just for 549 00:29:50,400 --> 00:29:53,800 Speaker 4: the fortune five hundred, that's for everybody that knows about it. 550 00:29:53,800 --> 00:29:57,680 Speaker 4: It's there for you, it's alive, it's legal, and that's 551 00:29:57,880 --> 00:29:59,880 Speaker 4: what I do for a living and notating the stuff 552 00:30:00,000 --> 00:30:02,680 Speaker 4: fascinates me. And it's so great to be able to 553 00:30:02,760 --> 00:30:03,400 Speaker 4: legally do this. 554 00:30:04,240 --> 00:30:07,320 Speaker 1: Stephen Moscowitz Moscow is LLP. Longtime friend of the show. 555 00:30:07,560 --> 00:30:07,920 Speaker 2: Steven. 556 00:30:08,040 --> 00:30:10,640 Speaker 1: Always a pleasure to talk to you. It's always interesting 557 00:30:11,720 --> 00:30:13,880 Speaker 1: if you want to talk to Stephen. One triple eight 558 00:30:14,000 --> 00:30:16,640 Speaker 1: tax deal, one triple A tax deal. 559 00:30:16,680 --> 00:30:18,600 Speaker 2: Steven, thanks for the time, appreciate. 560 00:30:18,200 --> 00:30:21,240 Speaker 4: It, Thanks so much. I had a great time, as always. 561 00:30:21,520 --> 00:30:22,200 Speaker 2: Got it now. 562 00:30:22,280 --> 00:30:24,680 Speaker 1: So obviously he gets paid to do taxes, so you 563 00:30:24,720 --> 00:30:26,640 Speaker 1: know you would have an incentive to convince you to 564 00:30:26,640 --> 00:30:28,720 Speaker 1: have a guy. But I don't doubt that that's true, 565 00:30:29,600 --> 00:30:33,120 Speaker 1: absolutely true, that the majority of people cheat on their taxes. 566 00:30:33,360 --> 00:30:35,960 Speaker 1: The cheating is you cheat yourself by not taking advantage 567 00:30:35,960 --> 00:30:38,600 Speaker 1: of everything. Yeah, and this is again this is not 568 00:30:38,600 --> 00:30:40,640 Speaker 1: a commercial in any way. But and it depends on 569 00:30:40,680 --> 00:30:42,960 Speaker 1: your financial circumstances, where you are in your life and 570 00:30:43,080 --> 00:30:43,880 Speaker 1: one hundred other things. 571 00:30:43,960 --> 00:30:45,479 Speaker 2: So you know, it's entirely up to you. 572 00:30:45,520 --> 00:30:49,560 Speaker 1: But our experience Jack and me as individuals and as 573 00:30:49,720 --> 00:30:54,240 Speaker 1: business partners has been you spend hundreds and save thousands 574 00:30:54,640 --> 00:30:58,120 Speaker 1: by consulting professionals. And maybe your situation is you'd spend 575 00:30:58,120 --> 00:31:02,160 Speaker 1: thousands and save tens of thousands. You know, again depending 576 00:31:02,160 --> 00:31:04,440 Speaker 1: on your life circumstance. But that's been our experience. One 577 00:31:04,480 --> 00:31:06,400 Speaker 1: of my main takeaways from Noan Steven and I think 578 00:31:06,400 --> 00:31:08,239 Speaker 1: he brought this up at a lunch we were at 579 00:31:08,280 --> 00:31:11,400 Speaker 1: with him one time, is the idea of and it's 580 00:31:11,480 --> 00:31:12,600 Speaker 1: changed the way I think about things. 581 00:31:12,640 --> 00:31:14,880 Speaker 2: But like would your I mean a basic question. 582 00:31:14,720 --> 00:31:17,240 Speaker 1: Of would you rather get would you rather have be 583 00:31:17,560 --> 00:31:21,800 Speaker 1: received fifty thousand dollars or eighty thousand dollars? Obviously I'd 584 00:31:21,880 --> 00:31:25,280 Speaker 1: rather receive the eighty thousand dollars. What are the tax implications? 585 00:31:25,440 --> 00:31:27,480 Speaker 1: How's the fifty thousand coming to you? How's the eighty 586 00:31:27,520 --> 00:31:29,720 Speaker 1: thousand coming? Is it coming through income? Did your grandma 587 00:31:29,800 --> 00:31:31,400 Speaker 1: live it to you? 588 00:31:31,400 --> 00:31:32,800 Speaker 2: You know? Is it a prize you won? 589 00:31:33,080 --> 00:31:35,760 Speaker 1: It's because there are different tax implications for all these 590 00:31:35,800 --> 00:31:37,920 Speaker 1: different things. You might be better off with the fifty 591 00:31:37,960 --> 00:31:40,120 Speaker 1: thousand than the eighty thousand. If it was a gift, 592 00:31:40,120 --> 00:31:41,880 Speaker 1: then if it was income, blah blah blah, And you 593 00:31:42,000 --> 00:31:43,920 Speaker 1: always have to look at that end of it. 594 00:31:43,920 --> 00:31:46,920 Speaker 2: It should not be that dizzying, but it is right. 595 00:31:47,040 --> 00:31:49,000 Speaker 2: I hope you enjoyed that. I did. I always get 596 00:31:49,040 --> 00:31:50,520 Speaker 2: something out of it. More on the way stay here. 597 00:31:52,080 --> 00:31:54,520 Speaker 4: Shot of course. 598 00:31:55,840 --> 00:31:57,040 Speaker 2: Of a Minecraft movie. 599 00:31:57,880 --> 00:32:04,080 Speaker 3: Please no throwing pulps horn and also absolutely no. 600 00:32:05,880 --> 00:32:22,840 Speaker 2: Jockey. So you don't know, I haven't told you. 601 00:32:23,360 --> 00:32:27,800 Speaker 1: Jack wife was actually at the theater everybody waiting for 602 00:32:27,920 --> 00:32:30,920 Speaker 1: the Minecraft movie to start. He gets on the microphone 603 00:32:31,160 --> 00:32:33,680 Speaker 1: and then when they figure out it's actually him, the 604 00:32:34,520 --> 00:32:36,960 Speaker 1: guy who says chicken jockey in the movie, everybody went 605 00:32:37,000 --> 00:32:38,920 Speaker 1: burst our Oh I'm sure that'd be very exciting as 606 00:32:39,160 --> 00:32:40,360 Speaker 1: as a child. 607 00:32:42,160 --> 00:32:45,400 Speaker 2: All right, innocent fun. Why not need more of that? 608 00:32:45,480 --> 00:32:45,920 Speaker 2: Not less? 609 00:32:46,040 --> 00:32:48,239 Speaker 1: My son's super into Minecraft has been for quite a 610 00:32:48,240 --> 00:32:50,920 Speaker 1: few years. My youngest, my oldest for whatever reason, does 611 00:32:50,960 --> 00:32:54,480 Speaker 1: not like video games. Never has really, but my youngest, 612 00:32:54,840 --> 00:32:57,840 Speaker 1: and the chicken jockey is something that shows up like 613 00:32:58,040 --> 00:32:59,000 Speaker 1: almost never. 614 00:32:59,200 --> 00:33:02,680 Speaker 2: It's incredibly rare. When you're playing the game. 615 00:33:02,840 --> 00:33:06,080 Speaker 1: There's a different there's a chicken jockey. There's a cat 616 00:33:06,320 --> 00:33:12,040 Speaker 1: can't be camel jockey, Oh I doubt it, but there's 617 00:33:12,080 --> 00:33:14,240 Speaker 1: a different jockey that shows up now and then it's 618 00:33:14,360 --> 00:33:17,200 Speaker 1: more common. But the chicken jockey is like you never 619 00:33:17,200 --> 00:33:18,840 Speaker 1: see it playing the game, It'll just all of a 620 00:33:18,880 --> 00:33:21,280 Speaker 1: sudden be there and like it might happen once in. 621 00:33:21,200 --> 00:33:22,920 Speaker 2: Your life if you play a lot. Wow. 622 00:33:22,960 --> 00:33:24,720 Speaker 1: So that's part of the whole thing of the game. 623 00:33:26,200 --> 00:33:27,960 Speaker 1: It being in the movie is a very big deal. 624 00:33:28,480 --> 00:33:29,160 Speaker 2: That's funny. 625 00:33:31,320 --> 00:33:36,280 Speaker 1: I started the show by saying, Finna die today, or 626 00:33:38,400 --> 00:33:40,400 Speaker 1: Finna gets some medicine, so I can make it through 627 00:33:40,400 --> 00:33:44,120 Speaker 1: this show. I've picked this up from my son, who 628 00:33:44,120 --> 00:33:48,920 Speaker 1: occasionally uses the very popular slang Finna. I hear it 629 00:33:48,960 --> 00:33:51,360 Speaker 1: in a lot of his hip hop music that he plays. 630 00:33:51,640 --> 00:33:54,680 Speaker 1: That's just gonna say. That sounds suspiciously urban hip hop 631 00:33:54,720 --> 00:33:59,320 Speaker 1: to me. Yeah, I guess the origin is fixing too. 632 00:33:59,400 --> 00:34:02,080 Speaker 1: But I've never any young person say fixing to, so 633 00:34:02,120 --> 00:34:05,200 Speaker 1: I think they skipped fixing to to just Finna, which 634 00:34:05,240 --> 00:34:08,239 Speaker 1: is basically short for I'm going to Finny get a sandwich. 635 00:34:08,800 --> 00:34:11,680 Speaker 1: I'm going to get a sandwich. So if you hear 636 00:34:11,760 --> 00:34:15,360 Speaker 1: that now, you won't be confused, or you can sprinkle 637 00:34:15,360 --> 00:34:18,920 Speaker 1: it into your vocabulary if you're around young people and 638 00:34:18,960 --> 00:34:20,799 Speaker 1: you'd like to sound more with. 639 00:34:20,920 --> 00:34:24,680 Speaker 2: The times, I will pass. Thank you, though, fine. 640 00:34:25,800 --> 00:34:33,880 Speaker 1: The desire of young suburban kids to affect the manner 641 00:34:34,000 --> 00:34:37,759 Speaker 1: of urban hipsters. Yeah, is well, it's eternal. I mean, 642 00:34:38,120 --> 00:34:42,720 Speaker 1: it's gone on forever. It's it changes, yet it stays 643 00:34:42,719 --> 00:34:44,960 Speaker 1: the same. It's an interesting phenomenon. 644 00:34:44,880 --> 00:34:45,800 Speaker 2: Right, Yeah. 645 00:34:46,360 --> 00:34:53,120 Speaker 1: Whenever I say Finnah to him, he he's disgusted by it. 646 00:34:53,640 --> 00:34:54,120 Speaker 2: Cringes. 647 00:34:54,239 --> 00:34:59,080 Speaker 1: Yes, say that a lot, then he couldn't cringe more exactly. 648 00:35:00,520 --> 00:35:03,439 Speaker 1: Youthful dialects gets so annoying as you get old. Why 649 00:35:03,520 --> 00:35:06,399 Speaker 1: is there anyway we have a fourth hour of the show. 650 00:35:06,400 --> 00:35:08,600 Speaker 1: If you don't get the fourth hour, you gotta do something. 651 00:35:08,840 --> 00:35:11,160 Speaker 1: You ought to subscribe to our podcast, Armstrong and Getty 652 00:35:11,200 --> 00:35:11,720 Speaker 1: on demand. 653 00:35:11,800 --> 00:35:14,920 Speaker 2: Thanks for being here, Armstrong and Getty.